Controversy Over Reliance Capital Bonds

Businessman Anil Ambani has been booked by the Central Bureau of Investigation in connection with alleged irregularities involving investments made by the Employees' Provident Fund Organisation. The EPFO had reportedly invested around ₹2,500 crore in bonds of Reliance Capital. However, the company allegedly failed to repay both the principal and interest, leading to an estimated loss of ₹1,816 crore to the fund.

The case was registered following a complaint by the Labour Ministry, and the CBI will investigate possible irregularities and identify those responsible. Meanwhile, the Reliance Group has strongly denied the allegations. It clarified that Anil Ambani had stepped down from the board of Reliance Capital in March 2022. The development is expected to draw significant attention within financial and regulatory circles.